Insurance – Surveyor & Loss Assessor – Denial of Renewal of Membership of IISLA
There are two category of Surveyors and Loss Asssessors in the form of “Individual” and “Corporate” under IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015, framed under the IRDA Act 1999. They are registered and granted respective licences by the Insurance Regulatory and Development Authority of India.
The membership of respondent no.1 IIISLA for SLA is statutory under Section 64UM of the Insurance Act, 1938, read with Regulation 15 of SLA Regulations, 2015. Respondent No.1 Indian Institute of Insurance Surveyors and Loss Assessors gives membership to SLAs who are given licences by IRDAI. In the past, membership was renewed on payment of fees without furnishing any application or information.
By the impugned four notices issued in 2024, however, the Respondent No.1 has carved an exception to the renewal of membership. IIISLA has enabled the annual membership renewal portal for Independent SLAs. However, the Individual SLAs associated with the Corporate SLAs are not only denied payment of annual renewal membership fee but they are instructed to provide additional information.
The net adverse result of denial of payment of annual renewal membership fees is that the Individual SLAs will automatically suffer loss of their membership and ultimately, the licenses also. Moreover, the new category of Independent SLA created by the impugned notices is neither provided by law or bylaws of the IIISLA.
Considering the fact that the time period for renewing membership has lapsed and same would have serious ramifications for the Petitioner, the Respondent no.1 was directed to accept the requisite information with fees and process the same in accordance with law. Now, the matter is listed on 10.12.2024.
Order dated 2.8.2024 of the High Court of Delhi in Writ Petition [Civil] No.10708 of 2024 of Forum of Corporate Surveyors and Loss Assessors Vs. Indian Institute of Insurance Surveyors and Loss Assessors and another
